Draper Esprit Puts a Big Pin in Revolut’s Growth Fund
What’s the Scoop?
Draper Esprit, a top‑tier venture capital outfit that loves high‑growth digital tech giants, has just pledged up to $16.5 million to Revolut, the ever‑spry London‑based fintech startup. This joint venture is slotting into Revolut’s Series C funding round, where the company is now valued at a cool $1.7 billion and has hauled in a tidy $340 million since its 2015 launch.
Meet the Actuary of the Digital Banking Universe
Founded by Nikolay Storonsky in 2015, Revolut has over 350 bright minds doing the heavy lifting. Think of it as a digital bank that lets you swing money between currencies without that pesky fee — akin to sending hugs in every currency, no charge. With 250,000 daily active users and a bold goal of hitting 100 million customers in the next five years, it’s doing more than just checking off a business plan; it’s rewriting the rules.
New Features: Crypto, Savings, and a Snap of Innovations
- Instant buying and selling of cryptocurrencies (because who doesn’t want a quick pile of bitcoin at the tip of a finger?)
- A nifty “round‑up” savings feature that penscha the spare change from daily spends into a digital vault – your money, upgraded.
Why Draper Esprit Is Rolling in the Aces
Simon Cook, the CEO at Draper Esprit, spilled the beans: “Revolut has not just intrigued us; it’s become a part of our DNA thanks to Seedcamp. We’ve been watching this team’s rise in the digital banking galaxy for a while, and the fact that Revolut is one of Europe’s fiercest tech stars says it all. App‑only digital banks are rewriting the banking playbook, and we’re absolutely stoked to partner with them as they reshape borrowing, saving, paying, and investing.”
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